The Central Bureau of Investigation (CBI) on Wednesday arrested Rishi Kamlesh Agarwal, the founder of ABG Shipyard Limited, in connection with an alleged bank fraud of more than Rs 22,842 crore, officials said.

The CBI had booked Agarwal, a former chairman of the company, the then executive director Santhanam Muthaswamy, and directors Ashwini Kumar, Sushil Kumar Agarwal and Ravi Vimal Nevetia on February 7.